Blue Ridge Mtn Res/Magnum Hunter

Blue Ridge Mtn Res/Magnum Hunter | Energy Companies | Energy Services | Eureka Midstream | Ohio | Washington County (OH) | West Virginia | Wetzel County

Magnum Hunter 2Q13: 1st Utica Well Drilled, WV Marcellus Continues
July 10, 2013July 9, 2013

Magnum Hunter Resources Corporation, both a driller and a midstream (pipeline) company with operations in the Marcellus and Utica Shale region, released their company wide operational update yesterday for the second quarter of 2013. Among the highlights: Magnum Hunter has just completed drilling its first Utica Shale well (Washington County, OH) and the well will be fracked in late July; the company continues to actively drill Marcellus wells in Wetzel County, WV in a 50/50 joint venture with Stone Energy; and Eureka Hunter is active across both the Marcellus and Utica with new pipeline and compressor station construction projects.

Relevant portions of the update below…
Read More “Magnum Hunter 2Q13: 1st Utica Well Drilled, WV Marcellus Continues”
Blue Ridge Mtn Res/Magnum Hunter | Energy Companies | Energy Services | Eureka Midstream | Monroe County | Ohio | Triad Hunter

Magnum Hunter Drills 2nd OH Location – Plans 18 Wells on 1 Pad!
July 2, 2013July 2, 2013

Magnum Hunter Resources announced today they have begun shale drilling at a second Ohio location–this one in Monroe County, OH. While the fact that Magnum is now ramping up their Utica drilling program is interesting–that’s not the “new news” in the announcement. The new news is this:

The Monroe County wells are the first wells Magnum Hunter will drill using their new robotic drilling rig, a Schramm T500XD. Furthermore, they plan to drill an astonishing 18 wells at this one location–10 of them Marcellus wells, and 8 of them Utica wells. In addition, Magnum is keeping it “all in the family,” by using subsidiary Triad Hunter to operate the wells and subsidiary Eureka Hunter to pipeline the gas from the wells…
Read More “Magnum Hunter Drills 2nd OH Location – Plans 18 Wells on 1 Pad!”
Blue Ridge Mtn Res/Magnum Hunter | Energy Companies | Utica Shale

Alpha Hunter Takes Delivery of ‘Robotic Drilling Rig’ for Utica
May 8, 2013May 8, 2013

Magnum Hunter Resources’ subsidiary Alpha Resources has just taken possession of a “robotic drilling rig” that it plans to use to drill Utica Shale wells for the next three years. The robotic rig can, by itself, lift the entire drilling rig six inches off the ground and rotate it and move it to a new position and location.

According to Magnum Hunter CEO Gary Evans, the rig is “state of the art” and Magnum has worked with the manufacturer, Schramm, over the past six months to develop it.
Read More “Alpha Hunter Takes Delivery of ‘Robotic Drilling Rig’ for Utica”
Accidents | Blue Ridge Mtn Res/Magnum Hunter | Energy Companies | Energy Services | Eureka Midstream | Industrywide Issues | Pipelines | Tyler County | West Virginia

Second Death from Flash Fire at WV Pipeline Station
April 17, 2013

A second man has now died from injuries received last Thursday in a flash fire at a “pig receiving station” along a Eureka Hunter pipeline near Wick (Tyler County), WV (see Flash Fire at Pipeline Station in WV Kills 1, Injures 3 Others for our original report and background details).

We mourn with the families of Raymond Miller and Bruce Phipps:
Read More “Second Death from Flash Fire at WV Pipeline Station”
Blue Ridge Mtn Res/Magnum Hunter | Energy Companies | Energy Services | Eureka Midstream

Magnum Hunter 1Q13 Update: More Drilling in Marcellus/Utica
April 16, 2013April 16, 2013

This morning Magnum Hunter Resources, a drilling and midstream (pipeline) company issued an update for their first quarter 2013 operations. According to CEO Gary Evans, Magnum Hunter is due to close on the sale of their Eagle Ford Shale assets to Penn Virginia for $401 later this month. They plan to reinvest the proceeds in drilling in the Marcellus and Utica Shale region, along with more drilling in North Dakota’s Williston Basin (Bakken Shale play).

Here are the sections from today’s announcement dealing with the Marcellus/Utica:

Read More “Magnum Hunter 1Q13 Update: More Drilling in Marcellus/Utica”
Accidents | Blue Ridge Mtn Res/Magnum Hunter | Energy Companies | Energy Services | Eureka Midstream | Industrywide Issues | Tyler County | West Virginia

Flash Fire at Pipeline Station in WV Kills 1, Injures 3 Others
April 15, 2013April 15, 2013

A flash fire at a "pig receiving station" along a Eureka Hunter pipeline near Wick (Tyler County), WV last Thursday evening seriously injured three people requiring they be airlifted to Pittsburgh. A fourth person was taken to a local hospital. Sadly, one of the seriously injured workers, 56-year-old Bruce Phipps of Marietta, Ohio, died late Friday night. Pipeline Inspection Gauges (or Pigs) are used for pipeline cleaning, inspection and maintenance, and fluid batching in pipelines. A pig is pushed along the inside of a pipeline by the flow of liquid or gas. A pig launching station is used to insert the pig into a pipeline using a series of valves and hatches. The pig is pushed through the pipeline by the liquid or gas stream to the pig receiving station.

It was at such a receiving station where the flash fire occurred. According to news accounts, the flash fire was under control within 15 minutes…

Read More “Flash Fire at Pipeline Station in WV Kills 1, Injures 3 Others”
Blue Ridge Mtn Res/Magnum Hunter | Energy Companies | Ohio | Triad Hunter | Utica Shale | Washington County (OH)

Magnum Hunter Drills First OH Utica Shale Well
April 15, 2013April 15, 2013

Although Friday for Magnum Hunter Resources was marred by the sad news of the flash fire in Tyler County, WV, the company (earlier in the day) issued a good news press release, one of importance: Magnum Hunter, through it’s subsidiary Triad Hunter, has just started drilling it’s first Utica Shale well in Ohio—northern Washington County.

The press release identifying where it’s being drilled:

Read More “Magnum Hunter Drills First OH Utica Shale Well”
Blue Ridge Mtn Res/Magnum Hunter | Energy Companies

Magnun Hunter Resources – Delays in the Marcellus/Utica
April 4, 2013April 4, 2013

What’s going on with Magnum Hunter Resources (MHR)? That’s the question asked and answered by Seeking Alpha blogger Mike Maher in an article posted today. The article is a mea culpa and explanation as to why he was wrong about MHR’s stock price. Back in November he predicted the stock, then at $3.92 per share, would soon take off. Today? It’s trading almost exactly at the same $3.92. So what happened?

MDN is not an investment blog, although a number of individual investors and investment firms do subscribe and read. Our interest in Maher’s article is not about MHR’s stock performance, but rather his discussion of MHR’s operations in the Marcellus and Utica Shale. He brings some good new information to light—a brief status report about MHR’s activities (or lack thereof) in our neck of the woods…

Read More “Magnun Hunter Resources – Delays in the Marcellus/Utica”
Anadarko | Antero Resources | Blue Ridge Mtn Res/Magnum Hunter | BP | Chesapeake Energy | Chevron | Energy Companies | EnerVest | Gulfport Energy | Hess | Ohio | Shell | Statewide OH | Utica Shale

Who’s Who in Leasing & Drilling the Utica Shale?
April 1, 2013April 1, 2013

Many people eagerly await Ohio’s annual production numbers, which will (hopefully) be out sometime later this week. Drillers had to file their production numbers no later than yesterday, Mar. 31. MDN has brought you some of the recent “idle” speculation that inevitably happens while waiting. The speculation lately has been along the lines of, “Is the Utica really all it’s cracked up to be?” (see More Angst Over OH Utica’s Oil Prospects). It is natural gas liquids (NGLs) and oil that makes the Utica special. If it turns out Utica production is mostly dry gas (methane only), it will be a major disappointment.

Investor websites are famous for analyzing this stuff to death before any hard data is available. We say: Let’s see what the numbers actually say! In the meantime, yet another “idle speculation” article on one of our favorite sites, The Motley Fool, once again talks about the potential for the Utica. However, a big part of the article interests us. It’s a handy, condensed roundup of the major energy companies that are active in the Utica Shale:
Read More “Who’s Who in Leasing & Drilling the Utica Shale?”
Blue Ridge Mtn Res/Magnum Hunter | Energy Companies

Overview of Magnum Hunter’s Operations in Marcellus/Utica
March 18, 2013March 18, 2013

An article on the Seeking Alpha website takes a close look at Magnum Hunter Resources and offers the author’s opinion on where the company should focus in 2013 (the author believes Kentucky and Tennessee should be the focus). As part of the article, we get this overview of how much acreage Magnum Hunter holds in the Marcellus and Utica, how many wells they’ve drilled thus far (hint: not many), and a map of their acreage position in Appalachia:

Read More “Overview of Magnum Hunter’s Operations in Marcellus/Utica”
Blue Ridge Mtn Res/Magnum Hunter | Economic Impact | Energy Companies | Industrywide Issues | Ohio | Triad Hunter | Washington County (OH)

Magnum Hunter Spends $1M on Office in OH, Here for “Long-Term”
February 12, 2013February 12, 2013

Magnum Hunter Chairman and CEO Gary Evans was on hand Monday in Marietta, Ohio for the grand opening of the new regional office building for Magnum’s Marcellus and Utica Shale subsidiary Triad Hunter. Triad has (so far) leased 85,500 acres in the Marcellus Shale and 81,800 acres in the Utica Shale. The new office is located centrally to both the Marcellus and Utica plays—together referred to as Appalachia.

Triad spent $1 million to remodel a downtown Marietta building that will be their Marcellus/Utica regional headquarters. So far over 40 Triad employees have moved in. Magnum Hunter, through subsidiaries including Triad Hunter, Alpha Hunter, Eureka Hunter, Green Hunter Water and Viking International Resources has its fingers in a lot of different pieces of the drilling pie. According to Gary Evans, their commitment to Appalachia is long-term…

Read More “Magnum Hunter Spends $1M on Office in OH, Here for “Long-Term””
Blue Ridge Mtn Res/Magnum Hunter | Energy Companies | Monroe County | Noble County | Ohio | Triad Hunter | Utica Shale | Washington County (OH)

Magnum Hunter Ramps up in OH Utica Shale with 4 Test Wells
January 23, 2013January 23, 2013

The Marcellus Shale is the powerhouse workhorse, but the Utica Shale continues to be white hot for development. Magnum Hunter Resources and its subsidiary Triad Hunter announced yesterday the company will drill a minimum of four Utica “test wells” in 2013. Provided they find a good result, they plan “further development” of their 107,000 gross acres of Utica Shale leases later in 2013—which connotes they’ll drill those test wells early this year. In fact, Triad Hunter is already working on their first Utica well pad in Washington County, OH. A second well pad in Washington County is already in the planning stages, as is a well pad in Noble County.

Magnum Hunter’s press release outlining their plans for Ohio, including references to new OH Marcellus wells just completed and new pipelines on the way for some of their existing OH Marcellus wells:

Read More “Magnum Hunter Ramps up in OH Utica Shale with 4 Test Wells”
Blue Ridge Mtn Res/Magnum Hunter | Eclipse Resources | Energy Companies | Monroe County | Ohio | Triad Hunter

Two Fierce Competitors Join Forces to Drill in OH Utica Shale
January 3, 2013January 3, 2013

Drilling company Magnum Hunter Resources announced a joint operating deal yesterday with Eclipse Resources to drill 12 Marcellus and 12 Utica Shale wells on 1,950 acres in Monroe County, OH over the next three years. Both companies together will invest $200 million in the program.

The reason for the partnership between these fierce competitors? According to Magnum Hunter, it’s due to the “treacherous terrain in this region” of the state. They want to pool resources and keep costs down. Of course, it also helps that Eclipse will start using Magnum’s pipeline system (Eureka Hunter Pipeline), providing more revenue for the midstream area of the business.

Read More “Two Fierce Competitors Join Forces to Drill in OH Utica Shale”
Blue Ridge Mtn Res/Magnum Hunter | Energy Companies | Triad Hunter

Triad Hunter Success: From 750 to 15,000 BOE/D in 2 Years
November 1, 2012November 1, 2012

Two years after Magnum Hunter bought out Triad Energy Resources, Triad is flourishing in the Marcellus and Utica Shale of Ohio and West Virginia. The company has gone from producing 750 barrels of oil equivalent per day (boe/d) to more than 15,000 boe/d. Triad just bought out another company (Viking International Resources, see this MDN story) and has added an additional 51,500 acres in WV and OH to their drilling portfolio.

Here’s the lowdown on the incredible success story of the company now called Triad Hunter:

Read More “Triad Hunter Success: From 750 to 15,000 BOE/D in 2 Years”
Blue Ridge Mtn Res/Magnum Hunter | Energy Companies | Industrywide Issues | M&A | Ohio | Statewide OH | Statewide WV | West Virginia

Magnum Hunter Buys Virco for $106.7M with 51,500 Net Acres
October 25, 2012October 25, 2012

Magnum Hunter announced this morning they’ve purchased 100% of privately-held Viking International Resources, Inc. (“Virco”) for $106.7 million using a stock swap and cash. The deal means Magnum Hunter will get an additional 51,500 net acres in the Marcellus and Utica Shale in West Virginia and Ohio, pushing their total acreage to something just over 166,000 acres throughout the Appalachian region. Management already has it’s eye on the new acreage and has identified 74 new drilling locations in the Marcellus and 31 new locations in the Utica Shale.

Details on the transaction and what it means:

Read More “Magnum Hunter Buys Virco for $106.7M with 51,500 Net Acres”
Blue Ridge Mtn Res/Magnum Hunter | Energy Companies

Magnum Hunter’s Explanation for Lack of Production
September 27, 2012September 27, 2012

Everyone seems to be providing an update on what’s happening with their drilling operations in the Marcellus—all at once! And it’s not even time for quarterly updates. The latest announcement is from Magnum Hunter Resources—a statement as to why they aren’t producing more (must be investors are asking questions). Magnum Hunter reports that storms knocked a lot of their production offline in July, and currently, lack of processing capacity at a Dominion Transmission facility is holding them back.

Here’s Magnum Hunter’s explanation for lack of production:

Read More “Magnum Hunter’s Explanation for Lack of Production”